The adventures of a new Trader

6/25 - 6/26/07

long 35 GRMN @ 73.45
sold 35 @ 71.21

stop: 71.21
pt: 77.93

profit - 74.40

review:

Tried to make more as the stock climed over resistance at 71.90, but got taken out from a pullback. MFI is over bought and momentum is choppy..time to stay away for a while.
 

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cash - I think it would be prudent for you to study some on candlestick analysis. I'm not saying use this as a trading system, but it might behoove you to understand what these candles may be trying to tell you. From your screenshots, I'm seeing some glaring reasons to either not initiate a long or exit a long position.

My Amazon book suggestions:
http://tinyurl.com/2dephd
http://tinyurl.com/25sfr7

It may be useful to understand a little more of the bull vs bear fight going on in your charts with the help of candlesticks.

Just a suggestion.
 
Quote from cashmoney69:

6/13 - 6/26/07

long 60 GTRC @ 51.58
sold 60 @ 49.95

stop: 49.95
pt: 56.47

profit - 111.80

review:

Bought at the right time, but momentum didn't hold up.
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Thanks for including the chart ... dont have a computer set up atm so it helps me to see whats going on.

tough trade here ... I probably would have done the same thing. Your support line seems accurate; I might have given it a couple ticks below your support line for some room (some wiggle room). But it may not of helped.
 
Quote from cashmoney69:

5/24 - 6/20/07

Long 50 LEH @ 74.65
Sold 50 LEH @ 81.78

stop: 71.60
pt: 83.80

profit + 342.50

review:

I missed the breakout, aswell as my profit target, but I made a great gain on this run that I wanted to take my profits, and didn't really feel like holding through a lengthy correction that may happen, while giving anyting back . The only reason I held onto this stock was because of earnings, which were great.
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Nice one here ...
when looking at this chart it almost looks like a perfect entry and exit. That first black candle that looks like a shooting star I would of been pretty concerned myself - but as we can see we didnt have follow through(why this is important with some candles).
When you sold it looked to be a perfect time; I wold of probably waited for a close near the low and sold at the end of the day there. But since you had a good idea about resistance you scored an extra point over waiting for confirmation.
 
Quote from brownsfan019:

cash - I think it would be prudent for you to study some on candlestick analysis.
More...

I have nison's book, but I'll take a look at the other. I'm lil short on cash now because I'm getting an apartment, but it got good reviews.
 
Quote from djxput:

Nice one here ...
when looking at this chart it almost looks like a perfect entry and exit. B]
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I actually thought about holding onto it, and now very glad i didn't..but LEH looks like it's coming into some strong support around 72.15
 
Quote from cashmoney69:

[color= blue]

Summary for May

[/color]

trades made: 13

profitable: 5 ( 38.46 % )

Short Term Gain 488.25


non profitable: 8 ( 61.53 %)

Short Term Loss 604.82

Largest profit: 344.00 from CFC
Average gain per trade: 97.65

Largest loss: 119.00 from MAR
Average loss per trade: 75.60


Total loss: -116.57




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[color= blue]

Summary for June

[/color]

trades made: 5

profitable: 2 ( 40 % )

Short Term Gain 869.50


non profitable: 3 (60 %)

Short Term Loss 326.20

Largest profit: 527 from GRMN
Average gain per trade: 434.75

Largest loss: 140.00 from NYX
Average loss per trade: 130.00


Total gain: 543.3
More...
 
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